Budgets are important to every person whether they are young or old; a budget helps one to understand how to use his money wisely and not get into debt. This is especially true for those who are young or just started working so that they may be able to live within their means, as they are not very experienced yet with life’s challenges. The elderly, such as the retirees, would also welcome a budget as they live on a fixed and small income like a retirement fund.
Hence, a simple budget worksheet template for any individual can take on the form of a worksheet with the following information:
There are basically only 2 main sections in a budget worksheet: how much you bring in (income) and how much you spend (expense).
With each section, you can record:
* Planned amount
* Actual amount
In the income section, you can record:
* Tax Refunds
In the Expenses section, you can record amounts such as:
You can include any category of expenses in a budget worksheet to get a more accurate account of your finances. For example, you can include taxes, whether they are state or federal. Depending on your lifestyle, needs and commitment, you can design your budget worksheet to give you the best benefit.
Consider the attached sample template for your convenience.